United States Shrimp Market Outlook
According to the report by Expert Market Research (EMR), the United States shrimp market size reached a volume of more than 807.67 kilo tons in 2023. Aided by increasing demand for high-protein food products and the growing applications of shrimp in various culinary preparations, the market is projected to further grow at a CAGR of 2.4% between 2024 and 2032 to reach a volume of almost 998.27 Kilo tons by 2032.
Shrimp, a popular seafood, is prized for its delicate flavours, versatility in cooking, and nutritional benefits. It is a rich source of protein, vitamins, and minerals, making it a sought-after ingredient in both home cooking and the food service sector. The U.S. shrimp market is characterised by its significant import volumes, diverse product forms, and the presence of both wild-caught and farmed shrimp.
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The increasing consumer preference for high-protein food products is driving the United States shrimp market growth. With the growing awareness of the health benefits associated with protein consumption, there has been a significant shift towards high-protein diets, leading to a surge in demand for shrimp-based products. Additionally, the rising trend of health and fitness has further contributed to the increasing popularity of shrimp, as it is a popular ingredient in healthy and nutritious meals.
The expanding applications of shrimp in various culinary preparations also play a significant role in the market. In the food service sector, shrimp is widely used in appetizers, salads, main courses, and sushi. The retail sector sees high demand for shrimp in frozen, canned, and fresh forms, catering to diverse consumer preferences. Moreover, shrimp’s versatility allows it to be incorporated into a wide range of cuisines, from traditional American dishes to international flavours, enhancing its market appeal.
Further, the growing demand for sustainably sourced seafood has led to an increased focus on eco-friendly shrimp farming practices. With the rise of environmental consciousness and the increasing popularity of sustainable diets, sustainably farmed shrimp has emerged as a critical component in the seafood market, consequently driving up the United States shrimp market share.
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Advances in shrimp farming and processing technologies are leading to the development of more efficient and sustainable methods of shrimp production. Manufacturers are focusing on producing high-quality shrimp to meet the rising demand in various sectors.
Government regulations promoting sustainable seafood practices and the reduction of environmental impact are positively impacting the shrimp market. Regulatory bodies are encouraging the use of eco-friendly farming methods to enhance the quality and sustainability of shrimp products.
As per the United States shrimp market analysis, the South holds a prominent share in the market, driven by the high consumption of seafood and the presence of major shrimp farming and processing facilities in the region. The strong culinary traditions involving seafood and the significant role of shrimp in Southern cuisine further contribute to the market growth.
The West is another significant market for shrimp, with increasing consumer awareness of the health benefits of seafood and the growing demand for sustainable seafood options. The presence of major metropolitan areas like Los Angeles and San Francisco, where diverse culinary preferences drive the demand for shrimp, further bolsters the market.
United States Shrimp Market Segmentation
The market can be divided based on environment, species, product category, distribution channel, and production and imports
Market Breakup by Environment
- Farming
- Processing
Market Breakup by Species
- Penaeus Vannamei
- Penaeus Monodon
- Macrobrachium Rosenbergii
- Others
Market Breakup by Product Category
- Peeled
- Shell-on
- Cooked
- Breaded
- Others
Market Breakup by Distribution Channel
- Hypermarkets and Supermarkets
- Convenience Stores
- Hotels and Restaurants
- Online Stores
- Others
Market Breakup by Production and Imports
- Domestic Production
- Imports
Competitive landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United States shrimp market. Some of the major players explored in the report by expert market research are as follows:
- Aqua Star
- Harbor Seafood
- Eastern Fish Company
- Mazzetta Company, LLC
- Others
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